India, Sri Lanka Underscore Beneficial Close Relations

15 January 2022

Mr. S. Jaishankar, External Affairs Minister of the Government of India, held a virtual meeting with Mr. Basil Rajapaksa, Finance Minister of the Government of Sri Lanka on 15 January 2022. Mr. Rajapaksa was in India for an official visit in December 2021.

During the meeting, Mr. Jaishankar reiterated India’s continued support for Sri Lanka, including helping the country overcome economic and other challenges caused by the COVID-19 pandemic. He also emphasized that as close friends and maritime neighbors, they stand to gain from forming closer economic interlinkages.

Mr. Rajapaksa expressed deep appreciation for India’s support, and welcomed Indian investments in Sri Lanka in sectors including ports, infrastructure, energy, renewable energy, and manufacturing. He ensured the External Affairs Minister that Sri Lanka will create a conducive business environment to encourage investments from India. They noted recent steps taken to jointly modernize the Trincomalee Oil Tank Farms, which is foreseen to raise investor’s confidence and enhance Sri Lanka’s energy security.

They also noted India’s extension of $400 million to Sri Lanka under the South Asian Association for Regional Cooperation (SAARC) currency swap arrangement, as well as progress in the credit facility of $1 billion India allocated for Sri Lanka for the purpose of importing food, essential items, and medicine, and another $500 million to import fuel from India.

The two Ministers agreed to remain in touch to provide guidance in building a mutually beneficial bilateral economic cooperation toward long-term economic partnership for shared progress and prosperity.

 

Related news

Press release

Jaishankar, Basil Rajapaksa discuss energy projects, credit lines

Mr. Alok Kumar, Secretary, Ministry of Power of the Government of India led a delegation to Bhutan on...

Read More


India’s Central Electricity Authority granted the Nepal Electricity Authority (NEA) approval to export an additional 22 megawatts of...

Read More


Indian Railways successfully delivered 75 sports utility vehicles (SUVs) by rail and road to Bhutan—its first delivery to...

Read More


The Bangladesh Roads and Highways Department signed a contract for road expansion work under the South Asia Subregional...

Read More


Mr. Ghanshyam Bhandari, newly-appointed Ambassador of the Government of Nepal to the Government of Bangladesh, met Bangladesh Prime...

Read More


Sri Lanka President Ranil Wickremesinghe visited the eastern port district of Trincomalee to inspect its integrated development plan....

Read More


Mr. Ahmed Latheef, Foreign Secretary of the Government of Maldives, and Mr. Vinay Mohan Kwatra, Foreign Secretary of...

Read More